First Freedom has agreed to assume approximately $116 million in customer deposits and purchase approximately $31 million in loans and other assets affiliated with three branches located in Algood, Cookeville, and Gainesboro, Tennessee.

The acquisition is expected to be completed during the spring of 2016, subject to customary closing conditions, including the receipt of all necessary regulatory approvals.

Olsen Palmer LLC served as exclusive financial advisor to First Freedom, with Christopher Olsen serving as lead advisor. This is the 7th bank M&A transaction announced or completed in 2015 in which Olsen Palmer has served as financial advisor.